Newsmakers
Black-Owned Asset Manager Sues NJ Pension Fund, BlackRock for Racial Bias
State officials purportedly admitted the agency had ‘an aversion’ to minority-owned firms, the lawsuit says.
Tag: New Jersey
Coronavirus - COVID-19
New Jersey to Postpone Pension Payments
A September payment has been deferred to October, or the start of the next fiscal year, as the state makes deep cuts and deferrals to stanch revenue losses.
Market Moves
New Jersey Likely to Cut Pension Contributions, S&P Global Says
The credit ratings agency downgraded the state one notch, to A-, and gave it a negative outlook.
Coronavirus - COVID-19
Haves and Have Nots: Virus Effect Will Widen the Public Pension Divide
When the crisis abates, the gap between well-funded plans and the others will be even larger.
Coronavirus - COVID-19
New Jersey Is Enlisting State Pensioners to Return to Work
The governor hopes to bolster ranks thinned by the coronavirus, letting retired workers collect regular pay without shrinking their pension payouts.
Coronavirus - COVID-19
New Jersey Freezes Nearly $1 Billion in Spending Over COVID-19
Economic impact of virus could lower state pension valuation.
Asset Management Culture
NJ Plan Seeks to Let Police Officers and Firefighters Retire Early
Called the ‘burnout bill’ by advocates, pension beneficiaries could retire after 20 years, but get no health benefits.
Pensions
New Jersey State Pension Returns 16.35% in 2019
US equities lead strong annual showing as real estate outperforms.
Research
Pension Debt Accounts for Over Half of All Debt for US States
The best, the worst, and the unfunded liabilities totaling $824 billion, according to report.
Asset Allocation
NJ Pension Fund Returns 6.27% Misses Benchmark, Target
Fund reports ‘possible economic slowdown’ for 2020.
Risk
New Jersey Pension Fund Just Shy of 3.09% Benchmark
Real return is the $76 billion plan’s best-performing asset class.
Alternatives
New Jersey to Cut Its Hedge Funds in Half
Pension fund plans to boost Treasury bonds, private equity investments.
Newsmakers
Alternatives Are Moving New Jersey’s Funding Needle
How the floundering pension employed them to better its funding status during a rough 2018.
Regulation
NJ Gov Vetoes Bill, Says It Could Jeopardize State Pension
Phil Murphy rejects proposed legislation as too broad and challenging to implement.
Newsmakers
New Jersey Pension Fund Axes Stake in Private Prison Contractor
Action follows American Federation of Teachers’ critical report on Trump’s immigration policy.